Top Paid Executives in India Inc.

A look at some of the highest paid executives in corporate India, based on data from Mumbai firm Capitaline Database on the 50 companies in the Nifty stock index. Pay includes salary and perquisites.

Updated Oct. 3, 2012 6:56 a.m. ET

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At number one is Naveen Jindal, chairman of Jindal Steel and Power Ltd., who earned 734 million rupees, or about $13.8 million for the financial year through March 31. That was a 9% increase from the previous year. Shown, Mr. Jindal ahead of a polo match in New Delhi, Feb. 22, 2009.
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With a pay hike of about 30%, Pawan Munjal, managing director of Hero Motocorp Ltd., is on number two. His pay was 345 million rupees, or about $6.5 million. Shown, Mr. Munjal, at a bike launch in Gurgaon, Sept. 21, 2009.
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Brijmohan Lall Munjal, chairman of Hero Motocorp Ltd., earned a few hundred thousand rupees less than Pawan Munjal, thus ending up third on the list. Still, his salary of around $6.49 million was up 28% from the previous year. Shown, Mr. Munjal, right, at a technology fair in New Delhi, Feb. 13 2007.
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Sunil Bharti Mittal, chairman of Bharti Airtel Ltd., is one of two executives on the Top-10 list who got a pay cut. His salary went down by 22% to Rs. 213 million, or around $4 million. Shown, Mr. Mittal unveiled Airtel's new logo in New Delhi, Nov. 18, 2010.
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The steepest pay increase went to Sunil Kant Munjal, who was promoted from non-executive director to executive director of Hero Motocorp Ltd. His salary rose from just $1,886 to around $4 million. Shown, left to right: Mr. Munjal, Brijmohan Lall Munjal, Indian Minister for Commerce and Industry Anand Sharma and Pawan Munjal posed for a picture at an event in New Delhi on March 11, 2010.
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On number six is the managing director of aluminium and copper company Hindalco Industries Ltd. D. Bhattacharya. He got a pay of 195 million rupees or $ 3.68 million. Pictured, a view of Hindalco's Kolkata office on Feb. 12, 2007. Hindalco Industries Ltd is a part of the Aditya Birla Group.
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Reliance Industries Limited's Mukesh Ambani saw no change in his salary from last year, at 150 million rupees or $2.8 million. Shown, Mr. Ambani at an event in Gujarat, Jan. 12, 2010.
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Kumar Mangalam Birla, chairman of Hindalco Industries Ltd. earned 130 million rupees or $2.46 million. His salary was not much changed from the previous year. Shown, Mr. Birla at a press conference in Mumbai on Oct. 6, 2009.
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Navin Agarawal, executive vice-chairman of metals and mining company Sterlite Industries India Ltd., is on number 9. His salary increased by 30% over the last year, to 125 million rupees or $2.35 million. Pictured, the Sterlite logo.
Sterlite Industries India Ltd.…